Moisture Curing Adhesives Market
Moisture Curing Adhesives Market by Composition (Polyurethane, Cyanoacrylate, Polyolefin, Silicone-based Moisture Curing Adhesives), by End-Use (Automotive, Construction, Textiles, Woodworking) & Region – Global Forecast 2021-2031
Moisture Curing Adhesives Market Outlook
The global moisture curing adhesives industry is expected to garner a value share worth US$ 6 Bn for FY 2021. The market is poised to surge 1.8x to reach US$ 10.74 Bn by the end of the 2021-2031 forecast period. Growth is likely to be driven by extensive applications in the construction and automotive sectors.
Key Points Covered in Moisture Curing Adhesive Industry Survey:
- Market Estimates and Forecasts (2016-2031)
- Key Drivers and Restraints Shaping Market Growth
- Segment-wise, Country-wise, and Region-wise Analysis
- Competition Mapping and Benchmarking
- Brand Share and Market Share Analysis
- Key Product Innovations and Regulatory Climate
- Assessment by Product Grade / Purity / Formulation Standards
- Assessment of Import Price, Bulk Price, Contractual Price, Producer / Distributor Price
- Certifications and Compliance Requirements
- COVID-19 Impact on the Moisture Curing Adhesive Industry and How to Navigate
- Recommendation on Key Winning Strategies
Consumption Analysis of Moisture Curing Adhesives 2016-2020 Vs Outlook 2021-2031
As per Fact.MR – market research and competitive intelligence provider, during the historic period of 2016 to 2020, the market expanded at a CAGR of 5%. Being an integral part of verified coating solutions such as primers and other intermediate coats, demand for moisture curing adhesives is growing rapidly in a variety of end uses and industrial applications.
Prospects somewhat declined in the wake of COVID-19, attributed to the imposition of mandatory lockdowns to curb infection spread. Production cycles were disrupted, resulting in limited output across the automotive and construction industries, two major end users of these adhesives. Eventually, however, a recovery attributed to easing of sanctions have restored earlier projections.
Manufacturers are likely to shift focus on introducing environmentally safer alternatives to comply with regional regulations. Considering these factors, the global market is slated to expand at around 6% CAGR across the assessment period 2021-2031.
Need to Reduce Corrosion Damage to Widen Moisture Curing Adhesives Uptake?
An important factor driving market growth of moisture curing adhesives is their ability to absorb atmospheric moisture which prevents corrosion. They range from rigid and hard to flexible and soft, depending on the application and the formulation.
Almost every end-use industry uses moisture curing adhesives considering moisture is always unhealthy for the long operating life of the materials. In recent years, they are significantly being used in the installation of windshield glass in automobiles and the bonding of polycarbonate (plastic) window panes to an aluminum ship structure.
One of the most recent trends in the market is the introduction of moisture-curing adhesive hot melts. They help in attaining improved heat resistance of the adhesives so that the initial strength of the hot melts can be achieved. Fact.MR projects this to boost the demand of the overall market over the forecast period.
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How will the Automotive Sector Contribute to Moisture Curing Adhesives Demand?
According to Fact.MR, the automotive sector is estimated to be one of the fastest-growing users of moisture-curing adhesives. In spite of the recession induced by COVID-19, the global automotive industry outlook remains optimistic, forecast to exhibit double-digit growth in the forthcoming decade.
Bulk of the global automotive industry output will be contributed by China, with the China Association of Automobile Manufacturers projecting a yearly increment of 45% in 2021, attributed to the introduction of new energy vehicles. Likewise, in India, domestic automobiles production surged at 2.36% CAGR between FY 16-20, according to the India Brand Equity Foundation, while the U.S will also exhibit substantial market growth.
Hence, key players in the market are working on their research and development activities to launch products that help in gaining a major market share. For instance, Hexion Inc. highlighted a unique technology for moisture-curing based on its VeoVa™ vinyl ester, a Versatic™ Acids & Derivatives product, and silane monomers at the 2019 European Coatings Show. Hexion’s technology platform enables the creation of cost-effective, high-performance, and isocyanate-free resins.
How is the Construction Industry Stimulating Moisture Curing Adhesive Sales in North America?
According to Fact.MR, North America is likely to register the highest growth and be a highly lucrative market during the forecast period. With over 25% revenue share, the region is expected to prove the most lucrative for stakeholders in the moisture curing adhesives market.
The moisture curing adhesives market in the United States surpassed the US$ 1.5 Bn mark in 2020. Demand is expected to remain especially high across the construction sector. As per the Associated General Contractors of America, the U.S construction industry generates nearly US4 1.4 trillion worth of structures each year. Consequently, contractors are incorporating robust, high-grade construction material.
This is impelling sales of moisture curing adhesives, with several prominent manufacturers operating within the North American landscape. In 2019, for instance, Permabond introduced a new range of modified epoxies, comprising of 2:1 mix ratio formulae for forging durable, strong & flexible bonds, and are self-leveling.
How are Surging Infrastructure Projects Laying Fertile Ground for Moisture Curing Adhesives in Asia?
According to Fact.MR’s projections, Asia is projected to be a significant revenue contributor to the global market for moisture curing adhesives through 2031. As of 2021, the region accounted for nearly 24% revenue share.
The Chinese market is expected to record a positive growth rate, exhibiting a CAGR of around 10% from 2021-2031. The rapidly growing construction industry along with governments’ investments in infrastructure development is expected to attract manufacturers and suppliers to this region. According to the National Development and Reform Commission, the Chinese government approved 26 infrastructure projects at an estimated investment of about $142 billion USD in 2019, which are estimated to be completed by 2023.
In India, a planned spend of about US$ 1.4 trillion USD in infrastructure over the next five years, including smart cities and “housing for all.” The total expenditure on the Ministry of Housing and Urban Affairs for 2021-22 is estimated at Rs 54,581 Crore. This is an annual increase of 14% over the actual expenditure for 2019-20. Considering the aforementioned factors, Fact.MR projects the market across Asia is likely to be highly lucrative.
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Why are Cyanoacrylate Moisture Curing Adhesives in High Demand?
Cyanoacrylate moisture curing adhesives are expected to account for nearly 20% of global sales over the coming years, according to Fact.MR. As cyanoacrylates are known to be quick-acting, strong adhesives, their applications in the construction industry, as well as household applications, are significantly high.
Furthermore, their demand in woodworking applications is also noteworthy, further adding to its share in the global market. Cyanoacrylate moisture curing adhesives are ideal for use with nearly all materials, especially plastics and elastomers. They provide high tensile & shear strengths, as well as initial strength within seconds.
Will the Construction Industry Remain the Primary Beneficiary?
Demand for moisture curing adhesives remains highest in the construction industry, accounting for around 1/4th revenue share in the global market. Owing to its high resistance to moisture and high strength properties, the adoption of polyurethane will remain the highest in the construction industry.
High durability also makes moisture curing adhesives an important component used in interior and exterior development in the housing and construction industry. This is likely to influence the major strategies of leading market players in the coming decade.
Key players involved in the market are rigorously investing in the development and launches of new products to gain a competitive advantage and expand their consumer base. Mergers & acquisitions along with diversification of product portfolios are key business strategies implemented by participants in the industry.
- In September 2021, Arkema S.A has initiated plans to acquire Ashland’s adhesives business for US$ 1.65 billion. The business primarily consists of Isoset water-based polyurethane wood glues and Aroset acrylic pressure-sensitive adhesives for floor graphics and packaging labels
- Likewise, Dymax Corporation has released the Dual-Cure 9771 reworkable conformal coating, capable of curing with light and moisture to ensure firm hold on the surface underneath PCBs in missiles, spacecrafts and satellites, in September 2021
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|Market Size Value in 2021||USD 6 Billion|
|Market Size Value in 2031||USD 10.74 Billion (approx.)|
|Growth Rate||6% CAGR from 2021 to 2031|
|Historical Data Available for||2016-2020|
|Market Analysis||Value (US$ Mn) and Volume (tons)|
|Key Regions Covered||
|Key Countries Covered||
|Key Market Segments Covered||
|Key Companies Profiled||
|Pricing||Available upon Request|
Key Segments Covered
- Silicone-based Moisture Curing Adhesives
- Polyolefin-based Moisture Curing Adhesives
- Cyanoacrylate-based Moisture Curing Adhesives
- Polyurethane-based Moisture Curing Adhesives
End Use Industry
- Moisture Curing Agents for Automotive
- Moisture Curing Agents for Construction
- Moisture Curing Agents for Textiles
- Moisture Curing Agents for Wood Working
- Moisture Curing Agents for Other End Use Industries
- FAQs -
By 2021, the market for moisture curing adhesives is likely to reach US$ 6 Bn
Fact.MR’s expects the global market for moisture curing adhesives to grow at 6% CAGR from 2021-2031
From 2016-2020, moisture curing adhesives demand surged at 5% CAGR
The global market for moisture curing adhesive is envisaged to account for over US$ 10.74 Bn by 2031.
Extensive uptake in the construction and automotive sectors is driving demand for moisture curing adhesives
The global moisture curing adhesive market is highly competitive owing to the presence of few dominant companies namely Bostik SA, Henkel AG & Co. KGaA, and H.B. Fuller, acquiring top shares.
North America is poised to yield 25% of total moisture curing adhesive sales
According to Fact.MR, around 24% of moisture curing adhesives revenue will be contributed by Asia
Construction is poised to remain the dominant end use industry for moisture curing adhesives, contributing 1/4th of global revenue
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